Financial services sector surprises with buoyant results

Two in five survey respondents said their business volumes had grown in the three months to September, while 17pc reported a decrease. This compared with a net balance of +51pc recorded in June. In the quarter ahead, a net 11pc of firms expect business volumes to fall, ending the period of robust growth seen in the past year. Falls in fee income, commissions and premiums were also expected Profitability growth improved in the past quarter, with the balance of +14pc the strongest result for over a year, though prospects for lower business volumes and income led a balance of 14pc of firms ...